Dongfeng Renault Automotive Co said yesterday that it aims to increase annual sales to 400,000 units in China by 2022.
"China is the world's largest auto market and a global trendsetter in the mobility of the future. This is why we have made it a strategic priority for growth," said Carlos Ghosn, chairman and chief executive officer of Renault Group during a press conference yesterday.
The Sino-French joint venture between French car maker Renault and Chinese automaker Dongfeng Motor plans to introduce nine models, including three electric vehicles, in the next five years.
The joint venture plans to continue focusing on the development of sport-utility vehicles as it targets the fast-growing segment in China.
It will also develop cars to meet the demand of Chinese consumers, and plans to enhance research and development on electric vehicles, autonomous driving and connected vehicles.